Kraken

Kraken

  • United States of America

  • Full trading platform

  • Kraken.com

  • Since 2018

Kraken
In Social Media:
Developed Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $163,793,194

Kraken is one of the biggest US-based digital asset exchange platforms in the world, being considered one of the top players in the industry. Users can trade Bitcoin (BTC) and Ethereum (ETH) in exchange for EUR, USD, CAD, GBP, and JPY. Also, Kraken offers leveraged trading on US-based Bitcoin and Ethereum exchanges. This platform is heavily backed by venture capital groups like SBI Investment.

Kraken has received heavy investments, having a nice design and good UX features. It's suitable for inexperienced traders, since it has a very thorough FAQ section where users can find a lot of information about its many trading functions.

Traditional Currency Support

  • Canadian Dollar (CAD)
  • Euros (EUR)
  • Japanese Yen (JPY)
  • US Dollar (USD)

Language Support

  • English
  • Japanese

Country Support

  • Australia
  • Canada
  • European Union
  • Hong Kong
  • Japan
  • Most Africa
  • Most of Asia
  • Most of Eastern European Union
  • Most of Latin America
  • Most of the Middle East
  • New Zealand
  • Norway
  • Russian Federation
  • Singapore
  • Switzerland
  • Turkey
  • United Kingdom of Great Britain and Northern Ireland
  • United States of America

Platforms Systems

  • Web Interface
  • Mobile App
  • API

Stock Market Options

Interface
customisation:

  • Allows customization of charts
  • Allows the movement or resizing of boxes
  • Allows Advanced and Basic option
  • Allows customized alerts and notifications

Advanced
Options:

  • Limit Order
  • Market Order
  • Stop Order
  • One Cancel Other Order
  • Post Only Order
  • TWAP (Time Weighted)
  • Dark Pools
  • Take Profit Order

Discounts For
The Big Traders:

  • Volume based discounts

Special
Services:

  • Margin Trading up to 5x

Kraken security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
FDIC insurance up to $250 000 (Apply's to Fiat currencies only), 3rd party insurance, Atleast 80% of funds are kept with a registered"Custodian
Private Keys Stored On
Exchange platform
Storage Type
They claim to hold user funds in cold storage but are not specific about it.

Advanced Security Features:

  • Email reports of logins
  • Monitor bahavior patterns for suspicious activity
  • Ability to define a withdrawal white list
  • Limit amount of daily trades
  • Limit amount of daily withdrawls
  • Email Notification of withdrawal

Security Features:

  • SSL
  • Bank Level Encryption
  • Protection from DDoS attackes
  • Regular Auditing Programs
  • Regular data replication and backup
  • PGP/GPG email encryption

Legal Registration or Compliance:

  • FinCen registration (US)
  • KYC/AML Compliant
  • Incorporation Documents

Kraken is one of the largest digital asset exchange platforms, operating in Canada, EU, Japan, and the US. Currently this platform oversees the claims of lost Bitcoins on Mt Gox. The CEO and co-founder of this company is Jesse Powell, a Bitcoin enthusiast and founder of Verge Center for the Arts in Sacramento, California. Kraken has been subject of many debates in the news over the years.

Summary:

Kraken is definitely one of the biggest online exchanges, having received large investments through venture capital funding over time. Although the platform tends to get sluggish from time to time, slowing down transactions, Kraken remains one of the best choices for digital asset trading, having solid security, extended trading features, and overall positive feedback from users.

Ease of use
Developed
Transaction Fees
Between 0.10-0.26% depending on volume
Deposit/Withdrawal Fee
0-0.09%
Deposit/Withdrawal Fee c For Bank Transfer
5-10$/Deposit, 5-60$/Withdrawal
Deposit/Withdrawal Fee For Credit Card
N/A
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Withdrawl funds to bank account, Send/Receive Crypto

Functionality:

Kraken offers extensive functionality for professionals and lots of trading pair options. The platform provides advanced stock market features through the account tier level upgrades. Kraken has high liquidity, offering fast funding and low fees for Bitcoin dark pool. The advanced order types and margin trading leverage of up to 5x will suit the needs of any trading professional.

Most common
customer complaint:

Some users complain of platform errors and slow response time on transactions.